Industry
Snapchat Announced Advertising Deal With Viacom
The video messaging application stroke a deal with Viacom on Tusday. Snapchat will be able to hit the mainstream as Viacom will sell its advertising, and Viacom is able to enter the Internet market.
Credit Suisse CEO Suggested Bonus Reduction After Billion Dollar Loss
As Credit Suisse booked its first full-year loss since 2008 on Thursday, CEO Tidjane Thiam asked his bonus to be reduced. The financial group reported a worse than expected net loss in 2015.
Global growth concerns hammer down Europe stocks drop for 7th day
For seven sessions in a row, European stocks suffered losses amid growing concerns about the global economy growth. The lower oil prices, disappointing quarterly results and sluggish global markets are also taking a toll on European stocks. Indicating the alarming situation in the European financial sector, the cost insuring debt against default reached its peak since 2013.
IEA warns of worse than expected oil glut
The International Energy Agency (IEA) has warned that short-term risks downside have increased as oil glut is expected to be worse than anticipated. With Iran resuming oil production, the sluggish global demand is adding further to the woes. OPEC's continuation of oil production is keeping pressure on oil prices.